The economy is considered to be at full employment when
A) the frictional unemployment rate is zero.
B) the structural unemployment rate is zero.
C) the cyclical unemployment rate is zero.
D) the unemployment rate is zero.
C
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If individuals are paid the wage at which the supply of labor is equal to the demand for labor,
A) no unemployment exists, and workers have no incentive to shirk. B) no unemployment exists, and workers have an incentive to shirk. C) some unemployment still exists, but workers have no incentive to shirk. D) some unemployment still exists, but managers can tell whether or not workers are shirking.
Refer to the graph shown. In equilibrium, total surplus is equal to:
A. 1,200. B. 1,400. C. 600. D. 2,000.
What forces shaped the culture in the country of UAE and Dubai in particular? How similar or different are these forces from those that shaped the culture of Western nations?
What will be an ideal response?
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.